Climate change policy design

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In the lead up to the United Nations climate change negotiatons in Paris (COP21), 2015, ICMM issued a statement on climate change, endorsed by the CEOs of ICMM company members. The statement offered support for an international climate change agreement, as well as for other policy measures that will drive reductions in greenhouse gas emissions and incentivise innovation.

ICMM advocates an approach to policy and action that will ensure the mining and metals industry plays its full part in contributing to sustainable development while remaining competitive in a low carbon economy. A position that includes the eventual establishment of an integrated and globally effective carbon regime.

In reality, even with the outcomes of COP21 the establishment of a global carbon regime will take some time. This means that policies and measures taken to reduce greenhouse gas emissions will, by and large, continue to focus on where emissions are directly produced.

Principles for Climate Change Policy Design

ICMM in 2011 published 'Principles for Climate Change Policy Design'. The principles offer a framework and approach for developing and implementing policy in different jurisdictions around the world. The principles should be regarded as an integrated set; all of them required in developing appropriate national policies and measures.

The principles are as follows:

  1. Provide clear policies for a predictable, measured transition to a long term price on greenhouse gas emissions.
  2. Apply climate change related revenues to manage a transition to a low carbon future.
  3. Facilitate trade competiveness across sectors.
  4. Seek broad-based application.
  5. Be predictable and gradual.
  6. Be simple and effective.
  7. Support low-emission.

These principles anchor our work with partners, including governments, to develop a robust climate regulations that will improve environmental performance in the mining and metals industry.